Understanding Your HOA
With the increased usage of technology, some things are improved, and some are not. Specifically, the introduction of neighborhood software programs that allow neighbors to voice their thoughts and opinions to be broadcast to others, seem to add value when it comes to community wide information. It’s nice to know that one of your neighbors found a good reliable roofer, or someone else uses a babysitter that is very responsible, or another person tried the newest restaurant in the area. From the HOA standpoint, the neighbor conversation can also be attributed to opinion and not always fact. Be careful what you repeat about your community if in fact it did not come directly from your HOA Board of Directors or the HOA Management Company they have employed to act in their behalf.
Several things to consider:
Keep in mind that each state in the United States has differing laws pertaining to the HOA business. Your HOA is a legal non-profit organization. Do not assume that this community has the same covenants or rules that your previous one did. Also make sure what the laws are in your current state.
The purpose of the HOA is to protect and improve the home values in the community.
Your Board of Directors is either the developer who created the neighborhood or if built out, the Board of Directors are volunteers elected by your community.
Know who is on your Board and what their ideas and plans are for the next year. It could affect your personal finances.
Attend the HOA meetings as often as possible to stay aware of what is happening.
Financial reports are given at these meetings and updates on projects. In this time
of COVID 19 these meetings are held virtually, and you can attend without leaving the comfort of your home.
Know your rights as a homeowner. Most communities have an Architectural Review Board. You may need to submit for approval for enhancements, changing colors on your home or adding a fence. Save yourself time and money by knowing what rules you as a homeowner have agreed to by buying your home in this community. You signed the documents when you purchased your home. Make sure you read them.
Most of all, appreciate the work of the HOA Board. They work hard to help keep your homes saleable and increasing in value. You may not always agree with your Board but make sure you deliver your thoughts and concerns appropriately and in the correct manner. We have seen Board members who have left the Board because they were yelled at or treated unfairly.
Be a good neighbor and enjoy your community!
Exclusive Association Management, Inc. 770-949-5663 Putting the “unity” in community! ™